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Other sectors are also being significantly highlighted to advance the nation's decarbonization objectives following the 28th Conference of the Parties (COP28). Low-carbon technologies, such as solar PV manufacturing, are being actively pursued. 5 By targeting these sectors, the UAE aims to build a more varied and sustainable economy, decreasing dependence on imported items while likewise developing tasks for both nationals and residents.
As one of the world's leading 20 economies, the UAE has protected a leading position in foreign direct financial investment (FDI) inflows within the area. The World Investment Report 2024 by the United Nations Conference on Trade and Advancement reported that FDI streams into the UAE reached approximately US$ 30.69 billion in 2023, up from US$ 22.74 billion in 2022, placing the UAE 2nd worldwide in FDI inflows.
In 2022, the Dubai Multi Commodities Center (DMCC) welcomed 665 new business, marking its best very first quarter in over 20 years, with substantial registrations from China, India, the UK, Germany, and France. 7 By 2023, the DMCC's overall number of business surpassed 24,000.8 Likewise, the Jebel Ali Free Zone supports almost 800 manufacturing firms with customized facilities, outstanding logistics, and over 100 personalized tasks.
Its strategic location at the crossroads of Europe, Asia, and Africa, offers smooth connectivity to global markets, which allows effective distribution of products to a broad variety of customers and end-users. Further, the UAE's strong logistics and facilities, lack of trade sanctions, and a growing number of free trade contracts with structured, duty-free access to Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) markets, make it an attractive area for developing production bases.
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